Downstream Loan definition

Downstream Loan means any loan granted by the Issuer from time to time to any of its:

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Downstream Loan means the downstream loan provided by the Issuer to the Target in a principal amount sufficient for repaying the part of the Existing Debt that is not repaid via funds attributable to the Senior Debt, as evidenced by a negotiable promissory note (Sw. löpande skuldebrev) stating that any interest accruing during each interest period shall be capitalised and added to the principal amount of the loan on the last day of the relevant interest period, until the final repayment date, and otherwise at arm’s length terms.

Downstream Loan means any Financial Indebtedness owed by (i) any Restricted Company to any of its shareholders that is not a Restricted Company provided that such loan is subordinated to the other liabilities of such Restricted Company or, at the election of the Agent, security is granted (on a limited recourse basis) over all rights and benefits under such loan to secure the Issuer’s obligations in respect of the Notes, in each case on terms satisfactory to the Agent (acting reasonably) (ii) any Restricted Company to any other Restricted Company.

Examples of Downstream Loan in a sentence

• Borrower and Blended SPV shall be entitled to rely on the assurances and certifications made by the CDFI Originators to Borrower pursuant to the Downstream Loan Agreement to confirm each Eligible Blended Portfolio Loan satisfies the foregoing.

• The Borrower shall, and shall cause IL to, construct and implement the Project promptly, shall apply the proceeds of the Loan and shall apply, or cause IL to apply, as applicable, the proceeds of the Subordinated Loan and of the loans contemplated in the definition of Downstream Loan Documents exclusively to the Project and shall use, and cause IL to use, its best efforts to cause Project Completion to be achieved on or prior to December 31, 2004.

• Borrower shall be entitled to rely on the assurances and certifications made by the CDFI Originators to Borrower pursuant to the Downstream Loan Agreement to confirm each Eligible Blended Portfolio Loan satisfies the foregoing.

• To each of Borrower and Blended SPV’s knowledge, relying solely on the assurances and certifications made by the CDFI Originators to Borrower pursuant to the Downstream Loan Agreement and subject to Section 5.2(k), each Eligible Blended Portfolio Loan held by Blended SPV satisfies the Program Parameters.

More Definitions of Downstream Loan

Downstream Loan has the meaning given to it in Clause 2.4(b);

Downstream Loan means the approximately DKK 1,000,000 downstream loan from the Issuer to the Property Company, which shall be secured by the Downstream Loan Security.

Downstream Loan means any Financial Indebtedness owed by LuxCo to the Issuer.